Singapore Airlines Steps Up Investment

SINGAPORE—Singapore Airlines Ltd. plans to raise its capital expenditure by 67% over the next five years as it battles for market share in an industry facing declining corporate demand.

The country's flagship airline said it plans to buy new planes and improve its cabins by investing 14.25 billion Singapore dollars (US$11.6 billion) over the period, compared with S$8.55 billion in the previous five years.